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NEWS UPDATES 15 November 2009

China promises investment in Indonesian infrastructure

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Chinese President Hu Jintao has promised that his country would invest in electricity and infrastructure development in Indonesia, Indonesia national news agency Antara reported.

Industry Minister M Hidayat made the statement in Singapore Saturday as he was asked about the result of President Susilo Bambang Yudhoyono`s bilateral meeting with Hu Jintao in Singapore on Friday evening.

"It was a concrete issue the Chinese president put forward to his Indonesian counterpart," Hidayat said, adding that the two countries had agreed to increase their domestic market as both Indonesia and China have so far relied on export.

Hidayat said that in the 30-minute bilateral meeting with Hu Jintao, President Yudhoyono expressed his gratitude and appreciation to Chinese government in its participation in the construction of Suramadu bridge linking East Java provincial city of Surabaya and Madura island.

President Yudhoyono and Hu Jintao had bilateral talks on Friday evening in the run-up to Asia Pacific Economic Cooperation (Apec) Summit in Singapore from November 14-15, 2009.

In 2010, the Indonesia and China will observe the 60th anniversary of the two countries diplomatic relations.

Indonesia and China signed Strategic Partnership Agreement in 2005 and at present they were trying to complete the action plan of the partnership. Meanwhile, presidential spokesman Dino Patti Djalal said the two countries` good relations were also reflected through Indonesia-China trade value which had exceeded the target of $30 billion in 2008.

In the meeting with Hu Jintao, President Yudhoyono was accompanied by Foreign Affairs Minister Marty Natalegawa, Industry Minister M Hidayat, Trade Minister Mari Elka Pangestu, Defense Minister Purnomo Yusgiantoro, Finance Minister Sri Mulyani and Investment Coordinating Board (BKPM) Chief Gita Wirjawan.

Besides having bilateral talks Chinese president, President Yudhoyono had held a series of bilateral meetings with several heads of state/government, among others New Zeland Prime Minister John Key, Singapore Prime Minister Lee Hsien Loong, and Papua New Guinea Prime Minister Sir Michael Somare.


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